The article will explore the phenomenon of secure corporate data exchange services and demonstrate the best virtual data room providers.
Virtual Data Room – a universal tool
In today’s world, the most valuable thing for a company is the time of appearance of its business products on the market, and without the IT component, it is impossible to imagine this process. The option of building a classic infrastructure can take months, and if you order and deliver specific equipment – the time frame can reach six months or more. Thus, we are talking about the Data Room service as an opportunity that can significantly reduce the time to create an IT infrastructure of the enterprise – up to a few days.
Under the Virtual Data Room (VDR) is understood a secure dynamic IT space designed to store and study the documents required for a full-fledged agreement between the seller and the buyer of certain resources (eg, shares in JSC, large real estate). The information here is stored in a structured form, and access to it can be opened via the Internet, in case the buyer gives an access password. This kind of security distinguishes specialized VDRs from public ones. For this reason, for example, IBM restricts its employees from using Dropbox and other similar tools.
So, VDR has gained the greatest popularity among companies engaged in legal services and consulting. The reason is understandable since this room is ideal for lawyers precisely for painstaking work with documents.
Best Virtual Data Room providers according to customers reviews
In terms of quality price, there are two VDR groups on the market. The first group can include the three most famous VDRs that are in demand among users:
All three companies have a wealth of experience in the field of M&A, and the solutions they offer are rich in functionality without compromising security. They also allow downloading and storing large amounts of data. The price of their services is rather high, as it is formed on a per-page basis and charges for additional users.
The second group includes:
These systems are more user-friendly and relatively inexpensive.
It should be noted that apart from the above, there are no special differences. Both groups are united by the priority of security, for example, they all comply with the “gold standard” for electronic financial transactions – 256-bit AES SSL encryption and require multi-factor authentication. Some modern VDRs also includes an undo process for a viewed document, which allows the owner to revoke access rights at any time, even if another user has downloaded the document. There are possibilities for installing dynamic watermarks, which will be reflected on each file loaded in the VDR and can save information about the download date, project name, and even the name and even IP address of the person who downloaded the file.